Bitcoin to $100,000 in 2024? Well That's What Novogratz Believes

Hey folks.

Bitcoin with the recent price surge have been in the news making headlines. But as the prices of Bitcoin are showing resilience, people should still stay cautious.

According to Michael Novogratz, a prominent figure in the crypto world expressing his thoughts that Bitcoin could reach to the milestone of $100k within the next year.

Novogratz pointed out that when the cryptocurrency stabilizes before putting on a more forceful rally, it may swing between $58,000 and $69,000.

According to him,

"It wouldn't surprise me if we bounce between $58,000 and $69,000 until some of its buying gets digested, and then the next move up,".

Bitcoin recently crossed its previous all time high surging above $69,200 as reported by U.Today which has brought the market capitalization of crypto market to over $1.3 trillion.

The price rise has been attributed to different factors which includes increased adoption by institutional investors and a general bullish sentiment in the crypto industry.

However, despite this peak, Bitcoin dropped significantly falling below $60k before going up to around $66k.

This volatility shows the unpredictable nature of cryptocurrency. Novogratz cautioned about potential consolidations and corrections, suggesting that the future of Bitcoin and other cryptocurrencies is complicated and unknown.

Note: This is not a financial advice.

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